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Connecticut jury awards $14.7 million against insurer for violation of Unfair Trade Practices Act in auto body shop class action lawsuit

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • February 8 2010

In a class action lawsuit brought by various auto body shops and the Auto Body Association of Connecticut, a Connecticut jury recently rendered a $14.7 million verdict against an insurance company for allegedly violating the Connecticut Unfair Trade Practices Act

New York state court decision raises issues concerning the drafting of arbitration clauses

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 20 2010

By Design, LLC terminated the employment of Oded Nachmani, who claimed he was wrongfully dismissed in violation of his employment contract and certain discrimination laws

SEC and US Attorney accuse Costa Rican life insurance bond company of $670 million fraud

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 21 2011

Both the Securities and Exchange Commission and the U.S. Attorney's Office have brought actions against Costa Rica-based Provident Capital Indemnity, LTD, an insurance and reinsurance company that purported to provide bonds guaranteeing life insurance settlements, but was instead allegedly perpetrating a $670 million fraudulent scheme

Second Circuit determines party waived its right to arbitrate

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 13 2010

Recently, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s ruling denying the motion of plaintiffs-appellants (collectively “LSED”) to compel arbitration of a dispute with Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPFS”), finding that LSED waived its right to arbitrate by litigating the case for nearly a year before filing its motion

New York Insurance Department to hold hearing on August 20, 2010 on whether to expand the Export List under Regulation 41

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 28 2010

A public hearing on August 20, 2010 will explore the possibility of increasing insurance capacity in New York by easing access to unauthorized insurers

SEC issues first progress report on convergence of global accounting standards

  • Edwards Wildman Palmer LLP
  • -
  • Global, USA
  • -
  • November 29 2010

Earlier this year, the leadership at the United States Securities and Exchange Commission (the "SEC") directed its staff at the Office of the Chief Accountant to develop a Work Plan to consider the convergence of the U.S

New York State Court denies motion to compel discovery of reinsurance and reserve information

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 29 2010

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim

SEC calls for new limits on use of 12b-1 distribution fee provisions in the mutual funds of variable annuity subaccounts

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • August 3 2010

The U.S. Securities and Exchange Commission (“SEC”) has recently proposed regulations that would limit fund sales charges and increase disclosure requirements under Rule 12b-1

Federal district court finds that arbitrator lacks the authority to issue pre-hearing deposition subpoena to non-party under the Federal Arbitration Act

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • August 31 2010

Helene Tomasian, a non-party to an arbitration between Ware and C.D. Peacock, Inc., moved to quash an arbitrator’s subpoena compelling her attendance at a pre-hearing deposition

Court denies Wells Fargo’s motion to dismiss on statute of limitations grounds

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 10 2010

The United States District Court for the Northern District of California recently granted in part and denied in part motions to dismiss a class action brought by a class of purchasers of mortgage pass-through certificates